The following is selected financial data from Block Industries. How much does Block Industries have in current liabilities?CashAccounts receivableEquipmentPrepaid expensesAccounts payableUnearned revenueLong-term notes payableCommon stockRevenueSales tax payableInterest expenseDepreciation expenseOOOO$1$19,800$25,800$12,300$20,00013,40010,6505,00012,3007,50010,00018,00011,7006,0004,5001,000

Current Liabilities - Current Liabilities are the obligation to be paid by the organization during…

Answered: The following is selected financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Balance Sheet You are evaluating the balance sheet for Cypress Corporation. From the balance sheet you find the following balances: Cash and marketable securities = $670,000, Accounts receivable = $870,000, Inventory = $570,000, Accrued wages and taxes = $111,000, Accounts payable = $207,000, and Notes payable = $1,070,000. What is Cypress's net working capital? Multiple Choice $1,388,000 O $2,110,000 $722,000 O $3,498,000
The financial statements of Gray Services and Blue Services include the following items: Gray Blue $92,000 $89,000 22,000 29,000 107,000 109,000 125,000 128,000 601,000 641,000 319,000 306,000 53,000 70,000 Services company has the higher working capital by Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Notes Payable The
Examine the balance sheet of commercial banks in the following table. $ Billion % Total 201.2 28.9 230.1 Assets Real assets Equipment and premises Other real estate Total real assets Financial assets Cash Investment securities Loans and leases Other financial assets Total financial assets Other assets Intangible assets Other Total other assets Total $ Ratio of real assets to total assets $ $ 876.3 2,032.1 6,627.3 1,201.2 $10,736.9 $ 416.4 780.7 $ 1,197.1 $12,164.1 1.7% 0.2 1.9% 7.2% 16.7 54.5 9.9 88.3% 3.4% 6.4 9.8% 100.0% Liabilities Deposits Liabilities and Net Worth Debt and other borrowed funds Federal funds and repurchase agreements Other Total liabilities Net worth Balance sheet of FDIC-insured commercial banks and savings institutions Note: Column sums may differ from total because of rounding error. Source: Federal Deposit Insurance Corporation, www.fdic.gov, October 2018. a. What is the ratio of real assets to total assets? (Round your answer to 4 decimal places.) $ Billion %…
The financial statements for BSW National Bank (BSWNB) are shown below: What is the dollar value of earning assets held by BSWNB? What is the dollar value of interest-bearing liabilities held by BSWNB? What is BSWNB’s total operating income? Calculate BSWNB’s asset utilization ratio. Calculate BSWNB’s net interest margin.
What is the financial performance summary for this balance sheet? BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS LIABILITIES Revenue 28,681.10 Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Cost Of Goods Sold 20,768.80 Accounts Receivable 954.80 Salaries Payable 225.20 Gross Profit 7,912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Operating Expenses: Total Current Assets 5,166.50 Selling, General & Admin. 5,980.80 Other Liabilities 693.40 Depreciation 307.30 Machinery & Equipment 1,688.90 Operating income 1,624.20 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Interest - Depreciation (575.60) SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) Property, Plant & Equip. - Net…
ASSETS Cash Accounts receivable Inventory Net plant and equipment Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and stockholders' equity Sales (all on credit) Cost of goods sold Gross profit Sales and administrative expenses Depreciation Operating profit Interest expense Profit before taxes Taxes (30%) Net income Multiple Choice O Refer to the tables above. What Is Megaframe Computer's total asset turnover? O MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31 O 7.58x 3.6x 2x 1.94x $ 875,000 600,000 $ 275,000 30,000 55,000 $ 190,000 25,000 $ 165,000 49,500 $ 115,500 $ 50,000 70,000 110,000 220,000 $ 450,000 $ 70,000 50,000 130,000 70,000 40,000 90,000 $ 450,000
EMM, Inc. has the following balance sheet: EMM, Incorporated Balance Sheet as of 12/31/X0 Assets Liabilities and Equity Cash $ 1,200 Accounts payable $ 4,900 Accounts receivable 8,900 Bank note payable 7,700 Inventory 6,100 Long-term assets 4,400 Equity 8,000 $ 20,600 $ 20,600 It has estimated the following relationships between sales and the various assets and liabilities that vary with the level of sales: Accounts receivable = $3,560 + 0.35 Sales, Inventory = $2,356 + 0.28 Sales, Accounts payable = $1,449 + 0.20 Sales. If the firm expects sales of $27,000, what are the forecasted levels of the balance sheet items above? Round your answers to the nearest dollar. Accounts receivable: $ Inventory: $ Accounts payable: $ Will the expansion in accounts payable cover the expansion in inventory and accounts receivable? Round your answers to the nearest dollar. The expansion in accounts payable of $ the total…
What is the debit to asset ratio?
Condensed financial data are presented below for the Tulsa Corporation: Accounts receivable Inventory C. d. Total current assets Total assets Current liabilities Long-term liabilities Sales Cost of goods sold Interest expense Net income Tax rate 2021 $277,500 310,000 675,000 800,000 700,000 250,000 200,000 77,500 75,000 1,640,000 985,000 10,000 130,000 25% 2020 $230,000 250,000 565,000 The profit margin used to calculate return on assets for 2021 is (rounded): a. b. 8.9% 16.3% 17.2% 18.3%
Hw.24.
Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some information from the cash flow statement: (amounts are in millions) Balance Sheet Cash and short-term Investments Accounts receivable Inventory Other current assets Long-lived assets Total assets Current liabilities Total liabilities Noncontrolling interest Shareholders equity Total liabilities and equity Income Statement. Sales Cost of sales Gross margin Earnings before interest and taxes Interest Taxes Income from discontinued operations Net income. Share price Earnings per share. Number of outstanding shares (millions) Cash Flows Cash flow from operations Capital expenditures Dividends Mmm Good Foods Incorporated 2019 $ 716 382 48 432 4,068 $5,646 $1,429 11,158 (5,512) $5,646 $ 6,486 3,558 $ 2,928 $1,637 319 336 613 $1,595 $75 5.31 356.2 $1,216 416 754
What's the total asset turnover ratio of this company? Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's equity Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income 1.41 2.33 O 4.45 1.11 8,000,000 (2,075,000) $600,000 900,000 1,500,000 75,000 $3,075,000 $5,925.000 $9,000,000 $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 $10,000,000 (3,000,000) (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000

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